Unfortunately Matthew will use 0.7% as spin without telling you the important details behind this.
Headline - itโs ugly.
Government consumption and investment was roughly 80% of the net increase:
- Government services: +ยฃ0.96bn
- Government investment: +ยฃ3.46bn
- Total GDP increase: ยฃ5.55bn
In the private sector computing grew 4.4%, but this is on the back of an AI and tech boom, in other words, it would have happened anyway.
Things that government policy directly impacts:
- Construction fell 0.7%
- Education fell 0.5%
- Food & beverage services fell 1.9%
Anyone with half a brain knows that GDP growth alone doesnโt prove higher productivity or better living standards.
We absolutely need sustained growth in the private sector and productivity.
Weโre fucked if we rely on increased state spending. This is how countries destroy themselves.
But this is what socialists want, an entirely managed economy and dependent class.
@MongolianMHound@SBarrettBar@UKLabour It's all built of government debt and spending - if you're working for the government or on benefits you're loving life. If you work for a living you're just taking another shafting.
@SBarrettBar We can just undo it all, punitively, when he's removed from office. They've set the benchmark now. We'll make it so the EU never wants anything to do with us ever again, which will serve them right for entertaining this stuff - they are an active part of the conspiracy.